Vero Beach Market Report for 32963 December 2024

The Vero Beach Real Estate Market Report for zip code 32963 in December 2024 shows that the real estate market remained an Extreme Buyers Market for Single Family homes and also for condos on the barrier island with fewer sales and increased inventory. Sales for both single family homes and condos declined again in December as buyers appetite for homes on the Vero Beach barrier island remains weak.

Vero Beach real estate sale prices increased for single family homes but declined for condos on the barrier island in December. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In December 2024, the Vero Beach single-family homes market in 32963 became an Extreme Buyers Market with only 7% Sales Ratio.
• There were 219 single family homes for sale on the island and only 13 were sold in December 2024.
• The inventory (homes available for sale) in December 2024 increased by 17% compared to November. While inventory is increasing, the winter season that approaches with more buyers looking for a place in Vero Beach, we may continue seeing see a more steady flow of listings coming to the market.
• Homes sold for a median of 95.36% of list price with an average of 99 Days on the Market (DOM) in December 2024, an indication that the buyers were more selective in their buying process.
• The most active price band for single family homes on the barrier island was again for homes between $500,000 and $1,000,000, but with only 2 sales and sales ratio of only 5%.
• In December 2024 the median sales price for single-family homes slightly jumped by 27% to $1,750,000 compared to November .
• The most active market for single family homes on the island in December 2024 was the Beach City area with 50 homes for sale, 2 Pending Sales, 7 sales, 7.1 months of remaining inventory (absorption rate) and a Balanced Market..

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 176 condos for sale on the island and only 5 were sold in December 2024.
• The Vero Beach condominium market in 32963 was again an Extreme Buyers Market with only 3% Sales Ratio as buyers’ appetite for condos on the island was again very weak.
• The inventory (condos available for sale) in December 2024 increased by 2% compared to November as some sellers continue to unload of their condos amid increases in assessment fees due to latest legislation.
• Condos sold for a median of 91.43% of list price as the average of the Days on the Market (DOM) was 63 days. Buyers looking for condos are bidding down list prices amid plenty of inventory to choose from.
• The most active price band was for condos priced between $800,000 and $1,000,000 , with only 1 sale and an anemic sales ratio of 3%
• The median sales price for attached homes (condominiums) in December 2024 dropped by 37% to $542,500 compared to November as more higher lower condos were purchased by the buyers this month.
• The most active market for condos in December 2024 on the barrier island was the South Beach area with 32 condos for sale,5 Pending Sales, 3 sales and 10.7 months of remaining inventory (absorption rate) and a Buyers Market .

For a more comprehensive market analysis for a specific Vero Beach area or neighborhood in 32963 or any other zip code use the request form below.